On October 31, Apple's stock price surged, with its market capitalization once again surpassing Nvidia's, making it the world's most valuable company.

Apple's shares rose more than 7% that day, the largest single-day gain in recent times.

Nvidia's stock fell 1.2% to $5.03, while Apple's shares climbed 4.2% to $4.93.

This is the fifth time this year that Apple has overtaken Nvidia in market value, reflecting investors' renewed confidence in Apple's growth prospects.

Analysts attribute Apple's strong performance to robust demand for the iPhone 18 series and steady growth in its services business, which have helped offset broader market volatility and concerns over semiconductor supply chains.

According to the latest data from market research firms, Apple's momentum is expected to continue into the holiday shopping season, with strong pre-order numbers for its flagship devices.

Counterpoint Research noted that consumer demand for the iPhone 18 Pro remains strong, particularly in key markets such as the United States and China.

In September, sales of the iPhone 18 Pro and Pro Max rose 3.1% year-over-year, outpacing the previous generation's iPhone 17 Pro models.

Apple's services segment, which includes the App Store, iCloud, and Apple Music, now accounts for 29% of the company's total revenue.

Despite the milestone, analysts caution that the competition for the top spot remains fierce.

Source: TechWeb